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Chart of the Day: Are Diamonds Not Forever?

price of diamonds indicated by blue line on the chart

Contents

Today’s Chart of the Day comes from Bank of America and shows the price of diamonds going back 22 years. After spiking in 2022, diamond prices are now the lowest ever. The industry says it’s a combination of:
  1. Over supply resulting from the high demand in 2022
  2. Less people getting married (particularly in China)
  3. 20% of diamonds are now lab grown
Always remember though, for commodities such as diamonds, the cure for low prices are low prices. As lower prices reduce supply, this can cause prices to go back up as less diamonds become are available. However, changing demographics and lab grown diamonds might start to play an increasingly important role in the long-run.